Energy Transfer - ET Stock Forecast, Price & News

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. The company owns and operates natural gas gathering and natural gas liquid (NGL) pipeline, processing plant, and treating and conditioning facilities in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, and Louisiana; natural gas gathering, oil pipeline, and oil stabilization facilities in South Texas; and a natural gas gathering system in Ohio, as well as transport and supplies water to natural gas producer in Pennsylvania. It owns approximately 5,215 miles of NGL pipeline; NGL and propane fractionation facilities; NGL storage facilities with working storage capacity of approximately 50 million barrels (MMBbls); and other NGL storage assets and terminal with an aggregate storage capacity of approximately 17 MMBbls. The company provides crude oil transportation, terminalling, acquisition, and marketing activities; and sells and distributes gasoline, middle distillate, and motor fuels and other petroleum product. It offers natural gas compression service; carbon dioxide and hydrogen sulfide removal, natural gas cooling, dehydration, and British thermal unit management service; and manages coal and natural resources properties, as well as sells standing timber, leases coal-related infrastructure facilities, collects oil and gas royalty, and generate electrical power. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. The company was founded in 1996 and is headquartered in Dallas, Texas.

Energy Transfer Trading Up 2.7 %

Shares of Energy Transfer stock opened at $11.93 on Friday. Energy Transfer has a 52-week low of $7.96 and a 52-week high of $12.48. The firm has a market capitalization of $36.83 billion, a PE ratio of 9.54 and a beta of 1.90. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 0.98. The company's fifty day moving average price is $10.56 and its two-hundred day moving average price is $10.75.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be paid a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 7.71%. This is a boost from Energy Transfer's previous quarterly dividend of $0.20. Energy Transfer's payout ratio is presently 73.60%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of Energy Transfer from $13.00 to $14.00 and gave the stock an "overweight" rating in a research report on Tuesday. US Capital Advisors reissued a "buy" rating on shares of Energy Transfer in a research report on Wednesday, June 1st. Morgan Stanley boosted their target price on shares of Energy Transfer from $12.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 26th. Finally, Royal Bank of Canada increased their price target on shares of Energy Transfer from $15.00 to $16.00 and gave the company an "outperform" rating in a report on Thursday. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Energy Transfer currently has an average rating of "Buy" and an average price target of $14.63.

Insider Buying and Selling

In related news, Chairman Kelcy L. Warren purchased 1,591,092 shares of the firm's stock in a transaction that occurred on Tuesday, August 9th. The shares were acquired at an average price of $10.94 per share, with a total value of $17,406,546.48. Following the purchase, the chairman now directly owns 49,578,477 shares in the company, valued at $542,388,538.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Kelcy L. Warren bought 1,591,092 shares of the company's stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average price of $10.94 per share, for a total transaction of $17,406,546.48. Following the transaction, the chairman now directly owns 49,578,477 shares of the company's stock, valued at approximately $542,388,538.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard D. Brannon purchased 26,027 shares of the business's stock in a transaction that occurred on Thursday, July 14th. The shares were purchased at an average cost of $9.47 per share, with a total value of $246,475.69. Following the completion of the acquisition, the director now directly owns 388,347 shares in the company, valued at $3,677,646.09. The disclosure for this purchase can be found here. Company insiders own 3.28% of the company's stock.